Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News

Jeff Bezos Nods to Biden’s Infrastructure Plan, Tax Hike Proposal

Meet the voice behind Indo-Asian News Service (IANS), a storyteller navigating the currents of global events with precision and depth. Crafting narratives that bridge cultures, IANS brings you the pulse of the world in every word

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

Amazon founder and CEO Jeff Bezos has endorsed US President Joe Biden’s infrastructure plan and even a hike in the corporate tax rate.

Last week, Biden unveiled an ambitious $2 trillion plan to overhaul the nation’s infrastructure and create jobs.

It is to be financed through increased corporate taxes from 21 percent to 28 percent and hiking taxes on those making more than $400,000 a year.

“We support the Biden Administration’s focus on making bold investments in American infrastructure. Both Democrats and Republicans have supported infrastructure in the past, and it’s the right time to work together to make this happen,” Bezos said in a statement on Tuesday.

“We recognize this investment will require concessions from all sides — both on the specifics of what’s included as well as how it gets paid for (we’re supportive of a rise in the corporate tax rate),” he said.

His statement gains significance because Biden while unveiling his infrastructure plan, singled out Amazon for not paying federal taxes.

Citing a 2019 analysis, the US President said Amazon was one of the 91 Fortune 500 companies that did not pay federal income tax in 2018.

“We look forward to Congress and the Administration coming together to find the right, balanced solution that maintains or enhances U.S. competitiveness,” Bezos said in the statement, posted on the company’s website.


Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic